Implementation & Integration
IMPLEMENTATION, MIGRATION & INTEGRATION
The Core Banking System Replacement (CBS) project can often put a substantial amount of pressure on the bank. The large-scale project requires the cooperation of various departments in order to ensure a quality end result. Beginning with the decision of whether or not you need a new system, there are a variety of challenges, including selecting a vendor, working with a vendor and other obstacles.
Whichever stage you’re working through, we are sure to have the knowledge and ability to guide you through the process. We work with our clients hand-in-hand throughout the entire process of implementation; whether it is for front to back trading platforms, essential new parts required for compliance with regulations, or simply a change desired by the business. The end result is a trading platform that is easy to use and fully configured to the client’s specific needs.
Our Implementation Approach consists of six major steps:
Planning & Scoping
Business Requirement Gathering
Design & Development
Migration is generally a part of implementation, but, depending upon your business, can be a stand-alone process. We provide implementation and migration services for moving data to and from the legacy system and the various trading platforms we work with, including Calypso, Principia, Summit, Murex, Front Arena, Open Link and others.
Migration projects have several challenges to be aware of, such as data migration, a critical and sometimes tedious process, which requires:
- Complete understanding of the data structures in the existing system
- One-to-one mapping of the relevant fields in the new system
- Identification of any gaps in the data
- Final migration of the complete data into the new system
Seamless integration with trading platforms (Calypso, Principia, Murex, Summit, Open Link, Front Arena) derivative systems, as well as with other key internal applications, such as custom in-house applications, collateral management, risk management (e.g. QRM), credit and market risk, counterparty risk, limits, settlements, payments, confirmations, accounting, pricing, and more are necessary for your business to run at its maximum efficiency.